Even After 21 Years in Taiwan, Fraud Prevention Remains Challenging! KGI Life Survey Reveals 45% of New Residents Have Experienced Scams

As Taiwan's population of new residents continues to grow, access to financial services and fraud prevention has become a crucial factor in their integration into society. Today (the 10th), KGI Life announced the insurance industry’s first 'Survey on Financial Insurance and Fraud Awareness Among New Residents,' revealing that as many as 45% of surveyed new residents—or their family members—have experienced fraud. Surprisingly, the rate exceeds 50% among those who have lived in Taiwan for over 21 years, overturning the common belief that longer residency leads to lower vulnerability.

Conducted jointly by KGI Life and the 'New Immigrant Family Growth Association,' the survey shows that fraud schemes primarily infiltrate daily social interactions and online shopping, with 'fake亲友 borrowing money' (22%) and 'fake shopping websites' (20%) being the most prevalent. The data indicates that financial fraud prevention needs do not diminish with longer residence, highlighting the urgent need for financial inclusion and education tailored to diverse communities.

Beyond fraud prevention, the survey also reflects a shift in new residents’ financial and insurance decision-making. As they deepen their roots in Taiwan, their financial needs have evolved from initial 'life adaptation' and 'language assistance' to long-term planning such as 'medical protection,' 'long-term care,' and 'retirement planning.' However, two major barriers remain during the insurance application process: 'not knowing which insurance suits me' (29%) and 'concerns about claims' (24%). The top risks new residents worry about are, in order: being left without care due to dementia or disability in old age, inability to afford medical expenses when ill, and insufficient retirement funds.

Regarding information preferences, the survey found that new residents primarily rely on friends and fellow countrymen for insurance-related information. When learning about financial topics, they prefer 'real-life case sharing,' 'simple Chinese with visual aids,' and 'simulated claims processes.'

To address these real needs, KGI Life has been promoting financial, insurance, and anti-fraud education for three consecutive years and has pioneered the industry’s first 'Insurance Industry New Resident-Friendly Service Guidelines,' embedding financial accessibility principles into frontline service procedures. Committed to diversity and inclusion, KGI Life has earned domestic and international accolades, including the 2025 Asian Insurance Award for 'Inclusive Innovation.' Moving forward, the company will continue leveraging digital and financial strategies to strengthen new residents’ financial resilience and build a more inclusive financial safety net.